Our most popular news story list in 2019 was dominated by M&A but headed by a US major announcing plans to restructure its business.
PepsiCo to close plants, shed jobs under multi-year restructuring exercise
In February, US food and drink giant PepsiCo announced it is instigating a restructuring plan to simplify its business model, which would involve job losses and factory closures along with billions of dollars in associated costs.
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The Meatless Farm Co. to enter US market
UK meat-free supplier The Meatless Farm Co. revealed in June it was to add to its roster of international markets with a deal to enter the US.
General Mills committed to divestitures in “more dynamic” food industry
General Mills’ chief executive Jeff Harmening told analysts in May the US FMCG giant would focus on parts of the business offering the best opportunities for growth in a market where the food industry has become “much more dynamic” in the face of emerging challenger brands.
3G Capital founder Lemann ‘calls Kraft Heinz venture a failure’
In July, one of the founders of 3G Capital, the co-owner of under-pressure US food giant Kraft Heinz, reportedly described the move to form the business a “failure”.
Ferrero to acquire majority stake in Spanish ice cream company ICFC
Two months earlier, Italian confectionery giant Ferrero announced it was to acquire a controlling stake in Ice Cream Factory Comaker (ICFC), a Spanish ice cream manufacturer, for an undisclosed sum.
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By GlobalDataTyson buys BRF’s European, Thai assets
Back in February, Tyson Foods said it had made the acquisition of BRF’s assets in Europe and Thailand, another deal the US meat titan had made to boost its overseas operations.
JBS-controlled Pilgrim’s Pride to buy UK meat group Tulip from Danish Crown
August saw another popular deal involving M&A in the meat sector, with Pilgrim’s Pride, the US poultry supplier majority-owned by Brazilian meat giant JBS, announcing it had moved to buy UK meat processor Tulip from Danish Crown.
Exponent Private Equity to buy UK Indian foods firm East End Foods
A month later, just-food reported how East End Foods, the UK-based supplier of Indian foods, was to have a new owner from the private-equity arena.
Aryzta will need “multi-year turnaround”, chairman warns
In January, Aryzta chairman Gary McGann warned the Irish-Swiss bakery giant would need a number of years to turn around the performance of the business.
Saudi Arabia’s Almarai acquires Riyadh-based Premier Foods
And, in February, Saudi Arabia’s Almarai, a leading player in the food and drinks industry in the Middle East, said it had reached an agreement to acquire Riyadh-based Premier Foods Industries for SAR108m (US$28.8m at the time of publication).
